Watch: Standing ovation as Badenoch says Tories would scrap stamp duty

Kemi Badenoch, the newly elected leader of the Conservative Party, announced at the party's conference in Manchester that the Tories would scrap stamp duty if they come to power. This announcement was met with a standing ovation from the audience. Badenoch stated that the stamp duty, a tax paid on the purchase of a property, is a significant barrier to homeownership, particularly for first-time buyers. She argued that removing this tax would make it easier for people to get on the property ladder and help stimulate the housing market. The proposal is part of the Conservatives' plan to address the cost-of-living crisis and boost the economy. Badenoch emphasized that this move would provide relief to homebuyers and encourage more people to invest in property, which could have broader economic benefits. While the announcement was well-received by the party faithful, the details and potential impact of the policy are yet to be fully assessed. The proposal will likely be a key focus as the Conservatives prepare for the next general election.